Washington Court Denies Review Suit Against Albertsons Companies' Special Dividend

The State of Washington's Supreme Court has denied a motion by the Attorney General of the State of Washington to hear an appeal from the trial court's denial of its request to enjoin Albertsons Companies Inc ACI from paying its previously announced $6.85 per common share special dividend.
The special dividend was originally scheduled to be paid November 7, 2022.
The temporary restraining order preventing the payment of the special dividend has been lifted as a result of the decision.
Albertsons Cos. will immediately begin the process of paying the dividend to stockholders of record as of the close of business on October 24, 2022.
Albertsons had sought to pay its shareholders $4 billion in dividends before closing its proposed merger with supermarket operator Kroger Co KR.
Washington State Attorney General Bob Ferguson argued that the special dividend payment risked severely undercutting the grocery giant's ability to compete during the lengthy period.
Price Action: ACI shares are trading higher by 0.42% at $21.30 in premarket on the last check Wednesday.